Executive Watch

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Perspective
Jonathan A. Schein - President & CEO - Real Estate Media - GlobeSt.com3/21/06:It appears that state and local politicians around the country are looking into whether or not Wal-Mart should offer its employees health benefits. It should be said that many Wal-Marts are located in areas already saddled with tax burdens that chase businesses away. The idea of legislating how private enterprise conducts its own affairs will probably send many of these corporations away forever. Yes, like many large and successful companies, Wal-Mart has had its share of issues, but it has also been able to grow and employ hundreds of thousands of people across the country. To impose a mandated health plan (read, another tax), will only cause prices to rise. And these rising prices will most seriously affect those that this mandatory health plan was supposed to help. In other words, in the long run, it won't really help these working-class people at all. Maybe some of these legislators should think through this position before posturing around it.

The views expressed in this article are the author's own.
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ROSEWOOD HOTELS & RESORTS
 (LOS CABOS, MEXICO) Andres Araya becomes managing director of the Las Ventanas al Paraiso, part of Ty Warner Hotels & Resorts LLC. For two years, the 20-year hotel executive has been overseeing day-to-day operations as resort manager.

CONTROL CONSTRUCTION CO.
 (KATONAH, NY) The firm promotes Kenneth P. Martin to president and hires Brad Ruder as vice president. Martin previously was CFO for affiliate, Control Group Inc. Ruder had been operations director for ACC Construction Corp.

New Hires

RIVEROAK INVESTMENT CORP.
(STAMFORD, CT) Joseph Iannotta, previously a senior auditor with Deloitte & Touche LLP, is the new assistant comptroller.

CUSHMAN & WAKEFIELD OF MASSACHUSETTS
 (BOSTON) Elizabeth Carrillo Thomas is named executive director for institutional sales in the firm's capital markets group. In joining the firm, she ended a four-year stint with CB Richard Ellis Inc.'s institutional group.

PROLOGIS
(WASHINGTON, DC) Mark G. Levy comes on board as first vice president and market officer in the metropolitan region, which includes Northern Virginia, Baltimore and suburban Maryland. He previously was vice president of the South Florida business unit for Duke Realty Corp.

EQUIS CORP.
(WASHINGTON, DC) Susan Stoudt joins as vice president and senior project manager, gaining responsibility for project and construction services in Washington, DC, Northern Virginia and Maryland. She was previously was a senior project manager and developer for CB Richard Ellis Inc.

SPERRY VAN NESS
(STOCKTON, CA) Randy Thomas is named senior adviser for the Central California office at 1919 Grand Canal Blvd. in Stockton while Rami Batarseh and Suheil Sahouria get the same titles to work the San Francisco Bay territory, operating out of 1900 Alameda De Las Pulgas in San Mateo.

JPI
(IRVING, TX) Karen Tepera comes on board as vice president of business development for the firm's management services. With the move, she ends a 12-year stint at Westdale Asset Management, exiting as executive vice president.

Job Opportunities
TitleDescription

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Acquisitions Associate

Our client is a leading private principal equity investment firm focusing on real estate portfolio transactions. Responsibilities for the new Acquisitions Associate will include working directly with senior-level executives to identify, underwrite and acquire single-tenant, net-leased properties and performing comparable transaction analysis, discounted cash flow modeling, credit analysis and property due diligence.

FIRST INDUSTRIAL REALTY TRUST, INC.

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IIS Officer (East Region)

The successful candidate will be responsible for expanding the company's corporate RE business by developing new and expanding existing targeted corporate relationships. Minimum of 15 years of direct corporate/institutional real estate transaction activity in industrial RE including relevant experience in corporate advisory and/or tenant representation.

GRUBB & ELLIS

(TEXAS)

Vice President, Director of Management Services

Functions include enhancing and maximizing the value of the owner's investment in commercial office buildings and facilities in the District; directing District business to maximize its profitable growth and return on investment; and planning, organizing, directing and controlling the activities of the District to optimize use of all resources under his/her control.

ING CLARION PARTNERS

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Development Investment Professional

The development investment professional will be an integral part of a team in Downtown Los Angeles that sources, underwrites, evaluates, structures, documents, and closes private equity investments in institutional quality real estate throughout SoCal.

CB RICHARD ELLIS

(NEW YORK)

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Manage the repositioning (renovation) and re-tenanting of a high-rise office building located in downtown Hartford, CT. Local market experience is preferred.

EQUINOX PARTNERS

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Asset Manager

A client wishes to recruit a Houston-based asset manager to work across multiple property types and portfolios and report to the vice president of asset management. Responsibilities will include managing third-party owner representatives; overseeing property operations; coordinating investor reporting; executing leasing and repositioning strategies and assisting in structuring and closing acquisitions.

TRAMMELL CROW CO.

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Senior Development Manager

This position in San Ramon will oversee all aspects of major development assignments. This includes managing, coordinating and administering projects from initial concept planning stages to procurement of construction, reviewing bids and contract negotiation.

CARRAMERICA REALTY CORP.

(WASHINGTON, DC)

REIT Portfolio Team Manager

Assume full responsibility for a portfolio of properties, prepare monthly close package for each property in portfolio, prepare schedules and reconciliations for balance sheet reviews, quarterly work papers and year-end audits. Maintain fixed assets and FASB sub-ledgers.

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